subject: Why You Need To Think About Resale Value When Buying New Motorcycles [print this page] While it may not seem important at first, one should always consider the potential resale value of a motorcycle before you actually go ahead and hand over your hard earned cash. In fact, resale value is one of the most important factors to think about because unless you're a collector, the chances are you will end up trading the bike in for a new one at some point.
Even though most bikers like to believe they have the greatest bike on earth, they very rarely get what they expect if they trade their bikes in, and in many cases, if they trade their existing bike in for a new one, they end up having some outstanding amount added on to their financing for the new bike they buy. Many people are also under the impression that they will get the best possible deal if they trade their bike in at the same dealer they bought it from, but in reality, this is simply not the case. To the contrary, you will almost always get more for your bike if you sell it privately.
Considering that private sales are for the most part your best option, it only makes sense to purchase a popular type of bike in the first place, and one which you believe will still be in demand a few years down the line. Even then, one needs to remember that motorcycle dealers are for ever offering special deals on the latest models, and of course this can make selling a motorcycle quite difficult, unless you're willing to let it go for less than what you think its worth.
Unfortunately, many bikers tend to have a sense of urgency when it comes to buying new motorcycles. Once a specific model has caught their attention, and they've decided they want one, they want to get on that bike as soon as possible, and quite often they're willing to accept whatever their chosen dealer offers them. Now, if for example you're still left with an outstanding amount of 2800 pounds owing to the finance company after trading in your existing bike, you'll essentially have to have that amount added to your new financing package, so now your new bike will be costing you 2800 pounds more than it should have.
Having such an amount added on to price tag of a new motorcycle is really something which should be avoided, especially when one considers the additional interest charges. The biggest problem however, is when another new model steals your heart before you've paid off your current bike. As you can see, it can end up having a snowball effect, and each time you buy a new bike, you end up have a bigger and bigger outstanding amount carried over.
Thinking rationally can prove to be extremely difficult, even for the most level-headed people, when it comes to buying new motorcycles, but if you're the type of person that likes to get on the latest mean machine to hit the roads, then you do need to think ahead when you purchase a new bike.
As has been mentioned, you'll almost always get more for a bike if you sell it privately rather than trade it in at a dealership, and for that reason, it's vital that you choose a bike which you feel will remain popular with bikers for a number of years. Read magazine articles, visit biking websites, and even go ahead and join biking forums in order to determine which bikes are likely to remain a popular choice.
Lastly but not least, don't allow your heart to rule your mind when the time comes for you to sell you existing bike in order to buy a new one. It's better to wait another few weeks or even a few months, rather than have an outstanding balance carried over to the financing for a new bike.
